What is a sole trader - Study guides, Class notes & Summaries

GCSE BUSINESS 8132/2 Paper 2 Influences of marketing and finance on business activity Version: 1.0 Final *JUN* IB/G/Jun23/E8 8132/2 Monday 12 June 2023 Afternoon Time allowed: 1 hour 45 minutes Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box around each pa...

A company decides to rely only on decision trees to decide whether to accept a project. If decisions are based on the financial outcome, what is the most important factor in these decisions? [1 mark] A Expected value B Initial cost C Net gain D Probability of success 0 2 When will a business’s corporate objectives be agreed? [1 mark] A After its mission and after its financial objectives B After its mission and before its financial objectives C Before its mission and after its fina...

Principles of Accounting Real Exam Questions With All Correct Detailed Answers Who might want to use financial statements? - ANSWER- - Owners of the business - Management - Employees - Creditors - HM Revenue and Customs - Banks and other lenders What are the four main forms of business mediums? - ANSWER- 1) Sole trader 2) Partnership 3) Company 4) Limited liability partnerships (LLPs) What happens if a sole trader incurs a liability in their business dealings and the earnings of...

GCSE BUSINESS 8132/2 Paper 2 Influences of marketing and finance on business activity Version: 1.0 Final *JUN* IB/G/Jun23/E8 8132/2 Monday 12 June 2023 Afternoon Time allowed: 1 hour 45 minutes Materials For this paper you must have: • a calculator. Instructions • Use black ink or black ball-point pen. • Fill in the boxes at the top of this page. • Answer all questions. • You must answer the questions in the spaces provided. Do not write outside the box around each pa...

CIPS L3M1Private incorporated companies are... - correct answer Seperate from their owners Private unincorporated companies have... - correct answer No legal distinction from their owners Sole trader - correct answer Those with exclusive ownership of a business Partnerships - correct answer Legal forms of a business with 2+ owners General partnership - correct answer a type of partnership in which all partners share equally in both responsibility and liability Limited liabili...

AQA A level business 3.1 Questions and Answers 100% Pass What are the aims of business? x5 Survival Cash flow (liqudity) profit (where the total revenue>total costs) Growth Social and ethical objectives Define what a mission statement is? A qualitative statement of an organisation's overall mission or purpose Reasons for mission statement x2 To provide a clear goal , purpose and sense fo direction To communicate to stalkholders What are the goals available for a business to achieve? x4 Mi...

ICAEW Q Bank. Exam Review Questions and answers, rated A+ Which of the following best explains what is meant by 'capital expenditure'? Capital expenditure is expenditure: A on non-current assets, including repairs and maintenance B on expensive items over £10,000 C on the acquisition of non-current assets, or improvement in their earning capacity D on items relating to owners' capital - -C Capital expenditure relates to the acquisition of, or improvement of the earning capacit...

OCR BUSINESS 2024 QUESTION PAPER 1 (J204/01:business activity, marketing and people What is a disadvantage of being a sole trader? A Can only have one employee B Cannot share business ownership C Legally required to produce a business plan D Must pay corporation tax

ITEC - Professional Conduct & Business Exam Questions And Answers 100% Verified. What does a home visiting business involve? - answerThe therapist visiting the client's home to carry out treatments What is a sole trader? - answerA company where one person controls finance and decisions Limited company - answerA limited company is a company that establishes the business as a legal entity separate from a person as an individual A private company whose owners are legally responsible for it...

What does a home visiting business involve? - ANS The therapist visiting the client's home to carry out treatments What is a sole trader? - ANS A company where one person controls finance and decisions Limited company - ANS A limited company is a company that establishes the business as a legal entity separate from a person as an individual A private company whose owners are legally responsible for its debts only to the extent of the amount of capital they invested